This standard practice addresses infrastructure and practices for the life cycle management of subcontractor held customer property. This includes the infrastructure and processes and sub-processes in the efforts of acquisition, use and disposition.
This work item and proposed standard addresses effective and efficient contract and subcontract management relating to contractor and customer property. Successful completion of an entitys acquisition of goods or services or a contractors contractual obligations may require the furnishing of property to suppliers or subcontractors. Proper management of customer owned property in the possession of a supplier or subcontractor protects the property owners investment, minimizes care and handling of property and minimizes administrative cost. This standard provides for a working construct to provide for adequate internal controls in the management of supplier or subcontractor held customer owned property. This standard only applies to property owned by the buyer and is expected to be use by federal agencies,government contractors and other large entities that furnish property to suppliers.
Keywordsacquisition; contract; customer; disposal; disposition; internal controls; prime contract; prime contractor; property furnished; reasonable assurance; subcontract; subcontractor; timely manner; use; utilization.
The title and scope are in draft form and are under development within this ASTM Committee.Back to Top